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Sugar price hits record high
FE Report
12/10/2005
Price of sugar reached a record high in the past week due to its rise in the international markets and late crushing of sugarcane in the country, traders said.
Sources at the Bangladesh Sugar and Food Industries Corporation (BSFIC) said normally the crushing of sugarcane in the country begins in early October, but this year it began in early November due to rains in the northern parts of the country.
Sugar production target has been set at 140,000 tonnes this year, he said.
The annual demand for sugar in the country is more than 1.2 million tonnes, he said adding the shortfall in the requirement will be met through imports.
"The sugar price rose in the markets as the traders stopped importing the product one month ago in anticipation of supply from the local mills," said importer Sher Mohammad while talking to the FE.
Traders said during the past week at the wholesale level sugar was selling between Tk 1580 and Tk 1585 per maund compared with Tk 1500-Tk 1510 per maund previously.
At the retail level, sugar was selling between Tk 45 and Tk 46 per kg compared to its previous rate of Tk 44 per kg.
Meanwhile, the prices of some vegetables and broilers declined and those for rice have been maintaining at their previous high levels despite the arrival of the newly harvested rice in the markets.
Brinjal was selling between Tk 16 and Tk 18 per kg compared to Tk 24-Tk 26 per kg previously. Green chilli sold between Tk 15 and Tk 16 per kg against Tk 20-Tk 24 per kg.
The prices of bitter gourd were unchanged at Tk 20-Tk 22 per kg, tomato at Tk 40-Tk 42 per kg against Tk 45-Tk 50 per kg.
Potato was selling at Tk 10 per kg, traders said adding that the new variety of the item was selling between Tk 16 and Tk 18 per kg in the city markets during the last week.
Beans of different varieties were selling between Tk 24 and Tk 26 per kg, unchanged from the previous week.
A medium sized cauliflower was selling between Tk 10 and Tk 12 per piece.
Traders said broiler was selling between Tk 65 and Tk 70 per kg compared to its previous rates between Tk 70 and Tk 75 per kg.
Coarse varieties of rice ranged between Tk 16.30 and Tk 17.20 per kg at the wholesale level, unchanged from previous levels.
At the retail level, the prices of different coarse varieties of rice remained unchanged between Tk 18.0 and Tk 19.0 per kg.
At the retail level finer varieties of rice were selling between Tk 22 and Tk 28 per kg in the city markets over the last week.
Imported onion was selling between Tk 32 and Tk 36 per kg while its local variety was selling between Tk 44 and Tk 46 per kg, unchanged from previous levels.
Traders said the prices of ginger remained unchanged between Tk 45 and Tk 50 per kg.
Masur dal, a local variety of lentil, was selling between Tk 48 and Tk 52 per kg.
Edible oil of different brands in five-litre containers was selling between Tk 265 and Tk 270, unchanged from the previous week.
One kg packet flour was selling between Tk 19 and Tk 20 per kg while its two kg packet was selling between Tk 38 and Tk 40 in the city markets over the last week, unchanged from the previous week.
The traders said poultry eggs were selling at Tk 48 per dozen, unchanged from the previous week.
Beef was selling between Tk 100 and Tk 110 per kg, unchanged from the previous week.
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